Close Menu
Influential MagazineInfluential Magazine
  • Home
  • Latest News
  • Entrepreneurs
  • Business
  • Finance
  • Leadership
  • More
    • Web Stories
    • Editor’s Picks
    • Press Release

Subscribe to Updates

Get the latest business and finance news for entrepreneurs all around the world.

What's Hot
Video: Toy Company Still In Crisis Despite Reduced Tariffs on China

Video: Toy Company Still In Crisis Despite Reduced Tariffs on China

May 27, 2025
Plastic Spoons, Umbrellas, Violins: A Guide to What Americans Buy From China

Plastic Spoons, Umbrellas, Violins: A Guide to What Americans Buy From China

May 24, 2025
Are You Smarter Than a Billionaire?

Are You Smarter Than a Billionaire?

May 22, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
Influential MagazineInfluential Magazine
SUBSCRIBE
  • Home
  • Latest News
  • Entrepreneurs
  • Business
  • Finance
  • Leadership
  • More
    • Web Stories
    • Editor’s Picks
    • Press Release
Influential MagazineInfluential Magazine
Home » Oil Prices Tumble as China-U.S. Tariffs Weaken Economic Confidence

Oil Prices Tumble as China-U.S. Tariffs Weaken Economic Confidence

April 9, 20252 Mins Read Business
Oil Prices Tumble as China-U.S. Tariffs Weaken Economic Confidence
Share
Facebook Twitter Reddit Telegram Pinterest Email

Oil prices continued to sink on Wednesday after China said it would match President Trump’s tariffs blow for blow. The U.S. price dropped as low as $55 a barrel before recovering somewhat.

The slide in crude prices signals deteriorating confidence in the strength of the economy. And while lower oil prices benefit consumers by, ultimately, reducing prices at the pump, they are a big problem for U.S. oil producers, many of which will struggle to make money drilling new wells at these levels.

For now, many companies are waiting to see whether prices remain between $50 and $60 before adjusting drilling or spending plans. That is because commodity prices can be very volatile. After all, oil fetched around $72 a barrel this time last week, before Mr. Trump ratcheted up tariffs on nearly all countries with which the United States trades goods.

But if prices fall further, to around $50 a barrel, U.S. oil production could decline by about 8 percent in a year, according to S&P Global Commodity Insights.

Peter Navarro, a trade adviser to Mr. Trump, has frequently cited the benefits of $50 a barrel oil, saying it would curb inflation.

Earnings are likely to fall as well, the Moody’s ratings agency said Wednesday, forecasting that profits will shrink by 10 percent or more across the global energy industry over the next 12 to 18 months. Moody’s previously expected profits would be flat compared with 2024.

The recent price slide has spooked U.S. oil executives, many of whom backed Mr. Trump’s campaign in hopes that he would open new areas for drilling and make it easier to secure permits for pipelines and other infrastructure.

“That’s a pretty expensive trade-off,” Dan Pickering, chief investment officer for Pickering Energy Partners, a Houston financial services firm, said on Friday.

Commodity and company share prices have deteriorated further since then, leaving a broad group of U.S. oil and gas stocks down nearly 25 percent in the past week.

It has been more than four years since oil prices were this low. The decline has yet to make a dent in the cost of gasoline, which averaged $3.24 a gallon on Wednesday, the same as last week, according to the AAA motor club.

Donald J Fees and Rates) Oil (Petroleum) and Gasoline Prices (Fares Trump United States United States Politics and Government
Share. Facebook Twitter Pinterest LinkedIn Telegram Reddit Email
Previous ArticleCompanies See China as a Safe Harbor Amid Trump’s Tariffs
Next Article Bond Sell Off Raises Questions About U.S. Safe Haven Status

Related Posts

Video: Toy Company Still In Crisis Despite Reduced Tariffs on China

Video: Toy Company Still In Crisis Despite Reduced Tariffs on China

May 27, 2025
Plastic Spoons, Umbrellas, Violins: A Guide to What Americans Buy From China

Plastic Spoons, Umbrellas, Violins: A Guide to What Americans Buy From China

May 24, 2025
Are You Smarter Than a Billionaire?

Are You Smarter Than a Billionaire?

May 22, 2025
Markets Head Lower in Wake of Concerns About U.S. Debt

Markets Head Lower in Wake of Concerns About U.S. Debt

May 19, 2025
Video: How Staffing Shortages Have Plagued Newark Airport

Video: How Staffing Shortages Have Plagued Newark Airport

May 17, 2025
Consumers Show Signs of Strain Amid Trump’s Tariff Rollout

Consumers Show Signs of Strain Amid Trump’s Tariff Rollout

May 15, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Video: Toy Company Still In Crisis Despite Reduced Tariffs on China

Video: Toy Company Still In Crisis Despite Reduced Tariffs on China

By News RoomMay 27, 2025

new video loaded: Toy Company Still In Crisis Despite Reduced Tariffs on ChinatranscriptBacktranscriptToy Company Still…

Plastic Spoons, Umbrellas, Violins: A Guide to What Americans Buy From China

Plastic Spoons, Umbrellas, Violins: A Guide to What Americans Buy From China

May 24, 2025
Are You Smarter Than a Billionaire?

Are You Smarter Than a Billionaire?

May 22, 2025
Wedding Belles Love Expands with Size-Inclusive, Same-Day Bridalwear Boutique

Wedding Belles Love Expands with Size-Inclusive, Same-Day Bridalwear Boutique

May 22, 2025

Subscribe to Updates

Get the latest business and finance news for entrepreneurs all around the world.

About Us
About Us

Influential Magazine is one of the top news portals about Business and Finance news for Entrepreneurs and leaders all around the world, follow us for more intersting articles and news.

Our Picks
Wedding Belles Love Expands with Size-Inclusive, Same-Day Bridalwear Boutique

Wedding Belles Love Expands with Size-Inclusive, Same-Day Bridalwear Boutique

May 22, 2025
Markets Head Lower in Wake of Concerns About U.S. Debt

Markets Head Lower in Wake of Concerns About U.S. Debt

May 19, 2025
Video: How Staffing Shortages Have Plagued Newark Airport

Video: How Staffing Shortages Have Plagued Newark Airport

May 17, 2025
Trending Now
Consumers Show Signs of Strain Amid Trump’s Tariff Rollout

Consumers Show Signs of Strain Amid Trump’s Tariff Rollout

May 15, 2025
Inside Elon Musk’s X Feed: Trumpism, Falsehoods and Lots of Love for Elon Musk

Inside Elon Musk’s X Feed: Trumpism, Falsehoods and Lots of Love for Elon Musk

May 15, 2025
World Economic Forum Investigating Allegations Against Founder Klaus Schwab

World Economic Forum Investigating Allegations Against Founder Klaus Schwab

May 15, 2025
Influential Magazine
Facebook X (Twitter) Instagram LinkedIn
  • Home
  • Privacy Policy
  • Contact
  • Terms & Conditions
© 2025 Influential Mag. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.